Starting the year with a profit plan is like starting a diet on January 1st… it looks great on paper until reality hits. Profit isn’t about wishful thinking — it’s about knowing your numbers and fixing the leaks early.

Most directors either overclaim training costs — or don’t claim them at all. Both mistakes quietly cost money. The rule HMRC uses is simple, but rarely explained. Get it right and training becomes a safe, powerful tax deduction. Get it wrong and it’s one of the first expenses HMRC will challenge.

A hidden detail in the Budget reveals a major shift coming in 2029: employees with side hustles will be forced into earlier tax payments through PAYE. This change could squeeze cash flow, create unfair differences between taxpayers, and push small businesses closer to Making Tax Digital. Here’s what you need to know—and how to prepare.

VAT in construction is often a minefield—different rates, complex rules, and the domestic reverse charge can easily trip up even experienced firms. This guide breaks down the essentials: when to register, how to apply the correct VAT rate, and what the reverse charge means for contractors and subcontractors. By mastering the basics, construction companies can protect their margins, stay compliant with HMRC, and avoid costly disputes.

Account reconciliation is a critical task for maintaining accurate financial records. It ensures that the balances in your accounting system match the actual amounts in your bank accounts, credit cards, or other financial statements. I will guide you through the essential account reconciliation steps, explaining why each is important and how to perform them effectively.

Forming a partnership with your spouse can be one of the most effective ways to split income and reduce your joint tax bill — and HMRC’s own guidance surprisingly supports it. As long as both partners are entitled to income and capital, and you formalise the arrangement properly, the tax savings can be significant. Here’s what you need to know before you take the leap.